Compare
Two or three products on one chart, each with the workbook's default parameters. The table below the chart reads off the redemption at the levels that matter.
- A Barrier Reverse Convertible (barrier never touched)
- B Bonus Certificate (barrier never touched)
- C Capital Protection Note with Participation
| Underlying at maturity | Barrier Reverse Convertible | Bonus Certificate | Capital Protection Note with Participation |
|---|---|---|---|
| 0 % | 8 % | 0 % | 100 % |
| 50 % | 58 % | 50 % | 100 % |
| 65 % | 73 % | 65 % | 100 % |
| 80 % | 108 % | 110 % | 100 % |
| 100 % | 108 % | 110 % | 100 % |
| 120 % | 108 % | 120 % | 120 % |
| 150 % | 108 % | 150 % | 150 % |
| 200 % | 108 % | 200 % | 200 % |
Barrier Reverse Convertible1230
A reverse convertible with a safety barrier: the nominal is repaid unless the barrier was touched and the underlying ends below the strike.
Pays off when: sideways to slightly rising underlying; falling implied volatility.
Main risk: A single touch of the barrier removes the buffer for the rest of the term.
Bonus Certificate1320
At least the bonus level at maturity if the barrier was never touched; a plain tracker if it was.
Pays off when: sideways to rising underlying; underlying stays above the barrier for the whole term.
Main risk: After a barrier touch, full downside and no bonus.
Capital Protection Note with Participation1100
Your nominal back at maturity, plus a share of any rise in the underlying.
Pays off when: rising underlying; rising volatility.
Main risk: If the issuer defaults, the protection is worth as much as its unsecured debt.
Workbook default parameters; path-dependent products use the scenario selected above. Differences in coupon size, discount, fees and maturity are not part of a payoff diagram, so a higher line is not automatically the better product.